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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (53588)	10/26/1999 3:50:00 PM
From: Gameboy	Respond to of 95453

Parker Closes Two New Credit Facilities biz.yahoo.com Excerpts: TULSA, Okla., Oct. 25 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD - news) today announced it has closed on two new credit transactions that will provide additional liquidity for the company. The first facility is a new five-year $50 million bank revolving line of credit agented by Bank of America. The bank group includes Congress Financial and Bank of Oklahoma. The new facility replaces the company's present $75 million revolving credit facility. "With this new $50 million revolver and a cash balance in excess of $50 million, Parker Drilling has substantial liquidity going forward.' said Jim Davis, senior vice president and chief financial officer. Comment: Love this company and they are ready to rock & roll.